Has Pinterest piqued your interest lately? Whilst Pinterest might not be getting the top spot in the limelight (like its competitors Instagram and TikTok) this visual search engine is still growing in popularity at record speeds.
With over 400 million Pinners coming to the platform each month to discover new products, you’ll want to hop on the Pinterest train whilst it’s running full steam ahead.
Pinterest is an untapped goldmine for social commerce. In fact, the platform is heavily investing in new social shopping features that make it easier to go from product discovery to purchase in just a few taps. As Jeremy King, SVP of Engineering at Pinterest, explains, “At Pinterest, our goal is to turn inspiration into action, and our vision for shopping is to make it possible to buy anything Pinners are inspired by on the platform.”
With 40% of Pinterest users boasting a household income of $100k+, tapping into Pinterest’s new shopping features has never been a better idea!
So, with four new unmissable updates rolling in from Pinterest HQ, we’re going to dive into the fresh app updates, feature changes and how you can elevate your business with Pinterest.
Update 1: The Pinterest API for Shopping
First up, Pinterest has just launched a new API (application programming interface) for Shopping. This new software gives merchants access to new catalog management tools and product metadata features to make it easier and more efficient to check pricing and availability.
With greater accuracy, this new API for Shopping is designed to make the Pinterest shopping experience even more engaging for Pinners.
As Chris Lentini (CMTO at Zazzle Inc.) shares, “Pinterest’s new API has allowed Zazzle to efficiently and effectively promote hand-curated design collections via shopping campaigns. We’re seeing some promising early performance and are excited about the potential this has to continue showcasing our talented independent creator community.”
Update 2: Product Tagging on Pins
Have you ever come across a picture with a product you’re just dying to get your hands on, but can never find the brand? Well, it’s time to get excited because Pinterest has just announced Product Tagging directly on Pins.
Yes, you can link your products with Pins so users can purchase your products with one click. This shopping feature turns inspiration into action as Pinterest continues to develop new tools and resources to help merchants create a more inspiring digital shopfront.
Hot tip: recent research from Pinterest has revealed that Pinners showed a 70% higher shopping intent on product Pins tagged in lifestyle images, rather than standalone product Pins.
Update 3: Video in Catalog
Video, video, video. Moving images are the flavor of the year, and it’s not going anywhere soon! With updates from Instagram, YouTube and now Pinterest, there are continual app upgrades to support video on the platform.
Pinterest announced that merchants would be able to add videos to their storefront that allows users to see products from 360 angles. Pretty nifty, right? We agree. Pinterest is increasing its user experience to create an immersive and seamless shopping experience.
Update 4: Shop Tab on Business Profiles
A whopping 70% of Pinners head to Pinterest to discover new products and ideas. With that in mind, it’s no wonder that Shopping is at the forefront of Pinterest’s latest updates.
The final exciting shopping update from Pinterest is this: a Shop Tab on Business Profiles. This update brings about positive change for merchants as Pinterest data shows that 30% of Shopify merchants get their first attributed checkout from their Shop tab on Pinterest.
As the team from Pinterest explains, “At Pinterest, we’re building a home for taste-driven shopping and continually investing in new ways for shoppers to browse, discover and engage with brands.”
The Shop Tab on Pinterest allows businesses to feature up to 16 types of product categories on their profile that are customizable to suit your feed.
Since the release of the Shop tab in 2020, TechCrunch reported, the number of Shoppable Product Pins has more than doubled in the last year, with traffic to retailer sites increasing by 230%. Now with Shop available for business profiles, merchants can show their available stock right from their home feeds.
Are you ready to level up your social media presence in 2022?
Now you’ve scored the latest insights about what’s happening in the world of Pinterest. It’s time to test out these latest features, put your best product forward and reach an eager and ready audience. And what better way to do that than with your ultimate all-in-one social media suite, Plann!
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